The inexact and separate science of economics : a response to my excellent critics
Abstract
This is a response to criticisms by Alexander Rosenberg, Nadia Ruiz, and Margaret Schabas of the second edition of The Inexact and Separate Science of Economics. The principal criticisms to which I respond concern the conception of an economic model and the relationship between equilibrium theory – that is the fundamental assumptions of mainstream economics (rationality, non-satiation, diminishing marginal rates of substitution, diminishing returns, constant returns to scale, and profit maximization) and applied theory, especially in macroeconomics.
Fields of Study & Subjects
Economic Theory and Institutions
Philosophy and History of Science
Economic theories and models
Publication details
- Journal / source
- Journal of Economic Methodology
- Volume
- 33
- Issue
- 1
- Pages
- 92–97
- Publication date
- 2 January 2026
- Language
- EN